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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

News On Bank guarantee
8 telcos gather Rs 20Kcr as guarantees for spectrum auction  

19-02-2015| Source:CNBC-TV18

Having received bank guarantees worth Rs 20,435 crore, the government is expecting a bumper spectrum auction this fiscal and telcos are hoping to make big moolah at the back of data service growth

Hope cos are bidding for coal blocks with eyes open: Swarup  

19-02-2015| Source:CNBC-TV18

mentioned in the tender document. If they fail to do so, their bank guarantees would be invoked.He also said that there would be a cap of fixed costs of power companies, so that power tariffs do not increase

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